Russia gets out of 20-year recession – Bloomberg

Russia has come out of a recession much quicker than the Central Bank expected, Bloomberg news agency says.

Thus, according to the agency’s data, the indicators were to start showing the growth at the earliest in the second quarter of the year. However, in practice they began to increase from the beginning of 2016.

It is noted that improvement was possible due to proper reallocation of defense spending.

“Data suggestive of January shows that Russia can begin the restoration process as early as 2017. So, in January, the economy saw a significant increase in the activity associated with the strengthening of ruble, lowering of inflation and improving of domestic demand,” a specialist for Russia at ING Groep NV, Dmitry Polevoi, told Bloomberg.